Ryan Specialty
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This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase. -
CEO Tim Turner said the firm still has an ambitious M&A pipeline and financial flexibility to execute deals.
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Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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Richard Winborn joins as president, while Patrick Mitchell takes on the COO role.
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The MGU also announced a string of promotions to leadership, including RWI CUOs and a new head of Europe.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The sale is expected to close next month, though terms are not yet final.
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